OK, I'm back.
Here's the interesting bit.
Despite the mention of muting, nothing actually shows that the tracks have been muted in the mixer (see previous post).
However, further testing I found that if any tracks were frozen before the render to audio was selected, they are not muted and also show as playing in the mixer, as can be seen in the screen capture...

So I don't think this works in the way it is described in the documentation.

I'll report it.

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